Zenefits supports the following Life and AD&D plans.
The basic life plan is mandatory.
- Basic Life Plan (100% employer contribution, employee enrollment is mandatory)
- Voluntary Life Plan (0% employer contribution, employee enrollment is optional)
- Basic AD&D Plan
- Voluntary AD&D Plan
Different combinations of types are also supported:
- Basic Life Plan + Voluntary Life Plan
- Basic AD&D Plan + Voluntary AD&D Plan
- Basic Life & AD&D Plan + Voluntary Life & AD&D Plan
Explaining Basic and Voluntary Plans
With basic plans, employees are automatically enrolled in life insurance when they join the company. Basic plans are mandatory in Zenefits and employers typically cover the plan's premium costs for their employees. Employers can generally choose to offer either a set amount of coverage or base the amount of available coverage on salary.
Voluntary plans allow the employee to decide whether or not they want to enroll in life insurance and AD&D. The employee typically covers the premium costs for any voluntary coverage they elect. For voluntary plans, employers can typically determine a range of coverage amounts for their employees to choose from.
Company A offers a basic life insurance plan only. The set amount of coverage for this plan is $50,000.
Company B offers both a basic and a voluntary life insurance plan. The set amount of coverage for their basic plan is set at twice the employee's salary. For the voluntary plan, employees can purchase any amount of coverage up to $200,000, but must purchase it in increments of $10,000.